Jewish Federations praises IRA charitable rollovers

JTA REPORT

Those rollovers allow people older than 70.5 years to make tax-free charitable gifts of up to $100,000 directly from their individual retirement account to eligible public charities. That provision had expired at the end of 2011.

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“We are heartened the IRA charitable rollover, which is vital to supporting JFNA’s social safety net, was extended until the end of 2013,” said Donna Blaustein, chair of JFNA’s planned giving and endowment committee.

In slightly more than six years, Jewish Federations have received more than $35 million from IRA charitable rollovers, enabling it “to accelerate capital campaigns financing new projects” and “maintain vital social programs, among other worthwhile projects,” according to a statement.